Credit Card Rules Changed: The month of September has started. With the beginning of this month, some rules related to credit cards have changed. If you also use a credit card, then it is important for you to know about them, because it is directly related to your pocket.
Credit Card Rules Changed: The month of September has started. With the beginning of this month, some rules related to credit cards have changed. If you also use credit cards, then you need to know about them, because it is directly related to your pocket. These rules are related to RuPay credit cards as well as HDFC Bank and IDFC First Bank credit cards. Let us know what rules of credit cards have changed from today i.e. 1 September.
RuPay credit card holders will benefit
From September 1, the reward point system is being changed for RuPay credit card customers. According to the National Payments Corporation of India (NPCI), from now on RuPay credit cards will get reward points for UPI transactions like other payment service providers. NPCI had also issued a circular regarding this, in which emphasis was laid on increasing the importance of reward points in increasing the use of credit cards.
Reward Point Cap in HDFC Bank
HDFC Bank has implemented new reward point caps from September 1. Under this, the bank has limited the number of reward points received from utility and telecom transactions to 2000 points in a month. On the other hand, if you pay school fees through third-party apps like CRED, CheQ and MobiKwik, then you will not be given reward points for that. However, reward points will be given to schools on payment through their website or point of sale (POS) device.
IDFC First Bank made new rules
There have been two major changes in the rules regarding IDFC First Bank’s credit card. Firstly, the bank has reduced the due date to 15 days after the statement is generated, which was 18 days earlier. That is, earlier after the statement was generated, customers used to get 18 days to make the payment, whereas now they will get 15 days. On the other hand, the bank has reduced the minimum due limit from 5% to 2% of the principal amount.
